USMEF: Western Hemisphere and Middle Eastern markets drive April beef exports
"Mexico also continued to shine on the beef side, along with the Caribbean, Central America and the Middle East", said USMEF President and CEO Dan Halstrom. "These markets are benefiting from foodservice demand and currency advantages compared to the main Asian markets. The headwinds in Asia remain formidable, but the tourism boom in Japan has helped solidify demand and exports have stabilized this year, despite the continued weakness in the yen and strong competition from Australia. Robust retail and e-commerce demand has helped U.S. chilled beef continue to dominate in Korea and Taiwan".
Through April, U.S. beef accounted for 69% of Korea’s chilled imports and 72% for Taiwan.
Bolstered by strong foodservice and retail demand, April beef exports to Mexico climbed 46% from a year ago to 21,031 mt. Export value increased 48% to $120.8 million – the highest since December 2020 and the seventh highest on record. Coming off a strong rebound in 2023, January-April exports to Mexico increased 19% to 77,530 mt, while value jumped 24% to $454.3 million. This included an outstanding performance for beef variety meat exports, which increased 23% from a year ago in volume (40,490 mt) and 16% in value ($108.7 million).
With a severe drought situation and surging imports of corn, Mexico is exporting more feeder cattle to the United States, exporting less beef to the United States and importing more U.S. beef.
Beef exports to the Caribbean continued to shine in April, reaching 2,891 mt – up 47% from a year ago and the fourth largest on record. Export value increased 17% to just under $23 million. January-April exports to the region totaled 11,928 mt, up 24% from a year ago, valued at $99.3 million (up 15%). Beef variety meat exports increased 25% through April to 2,066 mt, valued at $4.8 million (up 22%), led by outstanding growth in Trinidad and Tobago and a continued rebound in shipments to Jamaica, the region’s top destination for beef variety meats.
April beef exports to Japan increased 6% from a year ago in volume (21,028 mt) and 11% in value ($162.9 million). For January through April, shipments to Japan were still down 6% from a year ago at 83,720 mt, but value achieved a 2% increase at $632.7 million. Japan remains the leading value destination for beef variety meat exports, mainly purchasing tongues and skirts. These exports increased 2% through April to 15,042 mt, while value climbed 19% to $162.3 million. Inventories of imported beef at the end of April were down 16% from a year ago and Japan’s purchases of U.S. beef are expected to remain relatively steady, as has been the case through the first four months of the year. The weak yen is a significant challenge, especially when combined with Japan’s high import duties, but there is still demand for grain-fed U.S. beef at retail and foodservice.
Other January-April results for U.S. beef exports include:
April lamb exports above last year, but lowest of 2024
April exports of U.S. lamb totaled 224 mt, up 33% from a year ago but the lowest since December. Export value was up 21% to $1.25 million. January-April exports increased 1% from a year ago to 1,043 mt, while value climbed an impressive 19% to $5.9 million. Growth was driven primarily by the Caribbean and Mexico, but shipments also increased year-over-year to Canada, the Philippines and Taiwan.
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